LNG Energy Group Corp. V.LNGE

Alternate Symbol(s): LNGNF | V.LNGE.WT

Energy Oil & Gas E&P

LNG Energy Group Corp is a Canada-based company, which is focused on the acquisition and development of natural gas production and exploration assets in Latin America. The Company’s assets include Sinu-San Jacinto-1(SSJN-1), Valle Inferior del Magdelana-41 (VIM-41), Valle Inferior del Magdalena-42 (VIM-42) and Sinu-San Jacinto 3-1(SSJN 3-1). The Company has a 50% working interest in SSJN-1, VIM -42 and SSJN 3-1. The Company has a 100% working interest in VIM-41. SSJN-1 covers approximately 226,000 acres. SSJN 3-1 covers approximately 83,000 acres. VIM-41 includes 93 billion cubic feet equivalent (BCFE) of net 3P reserves. It covers approximately 172,000 acres. VIM-42 includes 405 billion cubic feet (BCF) of prospective resource and covers approximately 228,000 acres.

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LNG Energy Group Corp.

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Post by Betteryear2on Mar 12, 2024 9:26am

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Post# 35928144

LNG Energy Group Announces 2023 Year End Reserves Evaluation

Highlights:

Increased before-tax NPV10 for Proved (1P) reserves to U.S.$171 million representing NPV10 of C$1.49 per share.
Increased before-tax NPV10 for Proved plus Probable (2P) reserves to U.S.$306 million representing NPV10 of C$2.67 per share.
Increased before-tax NPV10 for Proved plus Probable plus Possible (3P) reserves to U.S.$577 million representing NPV10 of C$5.04 per share.
At December 31, 2023, 1P net reserves life index of 7.9 years and a 2P reserves life index of 14.3 years.
Three-year average net reserves replacement ratio is 193% on a 1P basis, 336% on a 2P basis.

TORONTO, March 12, 2024 (GLOBE NEWSWIRE) -- LNG Energy Group Corp. (TSXV: LNGE) (TSXV: LNGE.WT) (OTCQB: LNGNF) (FRA: E26) (the “Company” or “LNG Energy Group”) announced today announced the results of its annual independent reserves assessment conducted by DeGolyer and MacNaughton (“D&M”). All of the Company’s booked reserves for the year ended December 31, 2023 are located close to markets and infrastructure in northern Colombia within the Lower Magdalena and Sin-San Jacinto basins.

LNG Energy Group Announces 2023 Year End Reserves (globenewswire.com)